Unlike the FTX collapse, the $89 million Coldcard exploit has investors sending bitcoin back to exchanges
The Coldcard vulnerability has smaller bitcoin holders moving funds onto exchanges for safety, according to blockchain analytics firms.
This editorial is from this week’s edition of the newsletter Week in Review, sent to subscribers on Friday. Subscribe to the newsletter to get this weekly editorial the second it’s finished. The newsletter also includes the biggest stories of the week, with a comment on each story. First, an important security warning.
Iran denied Trump's Strait of Hormuz deal claim. Oil rose 2.4%.
August 2, 2026, 12:39 pmEthereum outpaced Bitcoin in July as stronger investment-product demand and corporate accumulation powered its first sustained relative advance in months. Data from CryptoSlate shows that ETH gained 19% during the month, climbing as high as $1,970 before retreating to $1,868 as of press time.
August 2, 2026, 12:35 pmThe Coldcard vulnerability has smaller bitcoin holders moving funds onto exchanges for safety, according to blockchain analytics firms.
Trump Media Technology offloaded 2,628 BTC worth $165.07 million, realizing $145 million in losses.
A $20 billion AI hedge fund gained 439% through June, lost roughly two-thirds of its value in July, and sold most of a $16 billion public-stock portfolio as leverage turned against it.
The July 28 futures snapshot shows a split reset, with trader motives and broader bullish confirmation still unresolved.
Shrinking stablecoin liquidity and rising cross-border capital flows are reshaping crypto market demand, even as Bitcoin remains resilient.
Michael Saylor says the viral $5 billion Bitcoin sale claim is old news pulled from Strategy's June 29 plan.
The suspected Coldcard exploit continued expanding as investigators link more wallets and Bitcoin to the broader attack.
Trump Media transferred another 2,628 Bitcoin to Crypto.com, bringing its reported sales over seven months to 7,281 BTC and leaving the company with 4,261 BTC in holdings.
Bitcoin is caught between macro FUD and technical weakness.